Toronto Dominion Bank Raises Stake in Nio Inc - (NYSE:NIO)

Toronto Dominion Bank raised its stake in shares of Nio Inc - (NYSE:NIO - Free Report) by 1,652,962.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 132,245 shares of the company's stock after acquiring an additional 132,237 shares during the period. Toronto Dominion Bank's holdings in NIO were worth $883,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NIO. FMR LLC lifted its position in NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company's stock valued at $36,038,000 after purchasing an additional 5,296,601 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of NIO by 164.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company's stock valued at $26,891,000 after buying an additional 4,018,659 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of NIO in the 3rd quarter worth $4,879,000. Quadrature Capital Ltd lifted its stake in shares of NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock worth $14,756,000 after purchasing an additional 538,907 shares during the period. Finally, Krane Funds Advisors LLC increased its stake in shares of NIO by 31.7% in the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company's stock worth $6,401,000 after purchasing an additional 370,556 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company's stock.

NIO Trading Up 2.8 %

NIO stock traded up $0.12 during midday trading on Tuesday, reaching $4.55. 39,118,793 shares of the company traded hands, compared to its average volume of 56,830,480. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of -3.01 and a beta of 1.77. Nio Inc - has a 52-week low of $3.61 and a 52-week high of $9.57. The business has a 50 day moving average of $5.02 and a 200-day moving average of $4.83. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NIO. Wolfe Research began coverage on NIO in a research note on Thursday, September 5th. They set a "peer perform" rating for the company. Citigroup dropped their target price on shares of NIO from $8.50 to $7.00 and set a "buy" rating for the company in a report on Wednesday, September 4th. Macquarie downgraded NIO from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. The Goldman Sachs Group downgraded NIO from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. raised shares of NIO from a "neutral" rating to an "overweight" rating and raised their target price for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $5.71.

About NIO

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.